As per a recent report, India’s tech landscape is witnessing a boom and the South region of the country is clearly the leader.
According to the Annual Digital Skills Report FY24 by Quess Corp, India’s tech landscape is booming despite facing global uncertainties. Also, the tech hiring in the county is overall positive, which means the IT sector has shown resilience and growth potential over the years.
Coming to functional skills, Development (35 per cent) has had the highest share of tech hiring. As for cities, Bangalore and Chennai have shown the highest tech-focused intent-to-hire in FY24. Overall, the South region has emerged as the leader in the tech sector, because 68 per cent of hiring requests flow through the region. It is then the West (16 per cent), North (8 per cent), and East (2 percent).
In comparison, the top 5 skill suites, namely Development, ERP, Testing, Design & Engineering, and Networking, have seen 66 percent of the aggregate demand. Apart from these skill suites, there has been a reported increase in the talent demand for skills related to cloud (16 percent), cybersecurity (215 per cent), and analytics (256 per cent) between H1 FY24 and H2 FY24.
Kapil Joshi, Deputy CEO of Quess IT Staffing, said in a statement, “Looking ahead, we anticipate a rise in IT hiring fuelled by the expansion of Global Capability Centers and the stabilization of the global economy. Key technological advancements like big data and AI will likely drive this growth,” adding, “While challenges remain, India's IT industry is well-positioned to navigate these shifts and emerge stronger than ever, thanks to the combined strengths of its people, innovation, and strategic vision.”
In the year 2024, Manufacturing, Retail and Healthcare are the top sectors, which have shown upward tech hiring trends. This year, there has been a massive shift in the tech talent demand across various industries. As per the survey, the industries that have emerged include finance (BFSI 19%), automotive (15%), consulting (9%), and product development (6%).
Manufacturing: In manufacturing, traditional powerhouses like automotive and aerospace still remain the leaders, but there has been expansion witnessed in areas like semiconductors, electronics, and electrical industries. The shift has been due to the industry’s interest in technological advancements with focused innovation in product development and supply chain management.
Retail: Ofcourse, the rise of retail, including growth and customer experience, is aligned with technology integration. Now amid the rise of e-commerce platforms and omnichannel retailing, there has been an upward trend in hiring talent for data analytics, AI, and digital marketing.
Healthcare & Life Sciences: Since healthcare and life sciences has seen a boom, it is also due to its digital revolution, which is driven by factors like electronic health records, telemedicine, and personalized medicine. Hence, the right kind of tech talent to enhance patient care, improve clinical outcomes, and manage administrative processes.
There has also been a dominance of tech talent in the commercial real estate market, where Bengaluru, NCR, and Hyderabad emerged as the top leaders. Together, they capture 65% of office space leasing activity, thanks to the potential "back-to-office" phenomenon. Moreover, tech companies drive space absorption at 26%. Interestingly, not just Tier-1 cities, Tier-2 and Tier-3 cities like Ahmedabad, Chandigarh, Indore, and Jaipur too are witnessing an upward trend in tech talent hiring.
